Tag Archive for: Paul Caputo
12472 Edison Way: King Shocks taking over Isuzu’s Garden Grove Facility
By Mark Mueller | June 6, 2016
Garden Grove HQ
King Shocks, a Garden Grove-based maker of shock absorbers and other automotive products, has bought an industrial property in its hometown for a new, larger headquarters.
The company recently closed on the purchase of 12472 Edison Way, a 55,576-square-foot industrial facility about half a mile north of the Garden Grove (22) Freeway near Lampson Avenue.
An affiliate of Irvine-based LBA Realty sold the building for a little more than $9.4 million, or $170 per square foot. LBA acquired the property in 2012 as part of a reported $144 million portfolio deal of local industrial properties previously owned by Kilroy Realty.
The latest sale was brokered by Voit Real Estate’s Mike Bouma, Paul Caputo and Eric Smith.
The property previously served as an Isuzu Motor Co. research and development facility, housing offices, a fuel storage room, and a car wash for the automotive company.
The facilities should fit well for King Shocks, a manufacturer and servicer of custom-made automotive shock absorbers, as well as performance racing products for utility vehicles and professional racing.
“There is around a 2% vacancy rate in the area and it took almost a year to find the right building for this group,” Voit’s Caputo said in a statement.
King Shocks had been leasing a 17,500-square-foot headquarters facility on Joy Street, according to brokerage data.
Another Successful Year for the Bouma Caputo Team
Over $60 million in Sale & Lease consideration in 2015.
The Big Squeeze – Feeling the Pressure of Low Inventory
They call New York City the Big Apple and New Orleans the Big Easy. When it comes to the industrial property market, Orange County is becoming known as the Big Squeeze. Conditions are such that good value is getting harder to find, competition for space is becoming intense and prices are being forced up by the simple law of supply and demand. Vacancy is now so low, (2.6% at the end of September) that some businesses are forced to stay where they are because a better option is just not available. The result: lower transaction volume and even fewer properties to choose from. Measured in square feet, sale transaction volume in Q3 of 2015 was 47% lower than it was the same time last year. Even leasing activity is feeling the pressure, having dropped by 67% in the same period. Read more
VOIT REAL ESTATE SERVICES DIRECTS THE $10,528,000 SALE OF A 66,000 SQUARE-FOOT INDUSTRIAL BUILDING PROPERTY IN GARDEN GROVE, CA
Garden Grove, CA (November 1, 2015) – Mike Bouma, Senior Vice President and Paul Caputo, Vice President, of Voit Real Estate Services’ Anaheim office successfully directed the $10,528,000 million sale of a 66,000 square-foot industrial warehouse in Garden Grove, on behalf of the buyer, The Smith Family Trust. The buyer, a distributor of educational products, will use this property to expand and consolidate the operations of their business, Teacher Created Resources, according to Bouma. The brokerage team successfully executed a plan where they were able to locate a new facility on behalf of the buyer, after which they listed and sold their two existing building and successfully executed a complex multi-property exchange. The brokerage team also coordinated a team of professionals to assist with the transaction and relocation, including the space planner/architect, racking consultant, and exchange accommodator.
The property is located at 12621 Western Avenue in Garden Grove, CA within the West Orange County Industrial market place.
About Voit Real Estate Services
Voit Real Estate Services is an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 64 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $42.5 billion in brokerage transaction volume. Further information is available at www.voitco.com.
VOIT REAL ESTATE SERVICES DIRECTS THE $6,052,284 SALE OF A 41,454 SQUARE-FOOT INDUSTRIAL BUILDING IN HUNTINGTON BEACH
Huntington Beach, CA (September 23, 2015) – Mike Bouma, Senior Vice President and Paul Caputo, Vice President of Voit Real Estate Services’ Anaheim office successfully directed the $6,052,284 million sale of a 41,454 square-foot industrial warehouse in Huntington Beach, on behalf of the Seller, a real estate partnership. The buyer, a distributor of educational supplies, will use this property for warehousing, distribution, light manufacturing and administrative office use, according to Mike Bouma and Paul Caputo.
“This is a record sale price for a second generation building in the area. It’s also an indication of where prices are headed with the lack of available buildings, high demand to purchase and continued low interest rates,” according to Mr. Caputo.
The property is located at 5422 Argosy Avenue in the desirable North Huntington Beach area. The property is adjacent to Corporate neighbors such as Boeing, Quicksilver, Cambro Mfg., C&D Aerospace, and Cleveland Golf.
About Voit Real Estate Services
Voit Real Estate Services is an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 64 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $42.5 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Wheel Maker Rolls Into Brea, Sells Surf City HQ
BY Mark Mueller
Zadro Products Snaps Up TSW’s Old Headquarters
TSW Alloy Wheels, a manufacturer of high-end custom wheels, has sold its Huntington Beach headquarters as it gears up for a move to a larger location in Brea.
The privately held company recently completed the sale of 14462 Astronautics Drive, a 62,639-square-foot industrial building near the Huntington Beach operations of Boeing Corp.
An affiliate of another Huntington Beach based manufacturer, Zadro Products Inc., paid about $10 million for the building, according to brokers with the Irvine office of JLL who worked on the deal.
“Orange County is experiencing extremely low vacancy, which is driving up rental rates” and for sale prices, said JLL senior vice president Steve Wagner, who represented TSW Alloy Wheels in the sale.
“With strong demand and very little available product, we were able to secure market leading pricing of $160 per square foot,” he said.
The purchasing affiliate, ZZ Partners LP, was represented by Mike Bouma and Paul Caputo of Voit Real Estate Services. Zadro makes fogless and vanity mirrors and other beauty-related products.
The company currently operates out of a 41,500-square-foot facility on Argosy Avenue that’s listed for sale at $6.3 million, according to CoStar Group Inc. records.
TSW will move its operations to one of three new industrial buildings in Brea recently developed by Newport Beach-based Western Realco.
TSW purchased a 155,000-square-foot building at 3172 Nasa St., near the headquarters of Brea-based Suzuki Motor and the La Floresta mixed-use development, for an estimated $21 million.
It’s the largest of the three new buildings at the development, which totals about 365,000 square feet.
Mega Lease
Irvine-based Sares-Regis Group has found a tenant for a big industrial facility it built in the Riverside County city of Perris.
Gardena-based retailer National Stores Inc. recently signed a 10-year lease for the 579,708-square-foot distribution building. The lease is valued at $26 million, the developer said.
National Stores plans to relocate its regional distribution operations from San Diego to the facility at 3900 Indian Ave., according to Larry Lukanish, senior vice president of Sares-Regis’ commercial development division.
National Stores operates 325 shops in 22 states and Puerto Rico as Fallas Paredes, Fallas Discount stores, Fallas Kids stores and Factory 2U. The merchandiser sells brandname and private-label clothing, along with shoes and home decor.
Sares-Regis is building out 12,600 square feet of the facility as office space for National Stores, Lukanish said.
The developer announced in 2013 that it was starting the project, which sits near the former March Air Force Base. The project is located on 28.8 acres next to the 215 Freeway and is near big distribution facilities used by Whirlpool, Hanesbrands Inc., Home Depot, Lowe’s and Ross Dress for Less.
The new building has 109 dock-high doors and secured parking for 138 trailers, among other features.
Sares-Regis said in 2013 that the project would cost about $40 million.
Vegas Buy
Irvine-based apartment investor Bascom Group LLC has bought another rental complex in Las Vegas, this time for a property that caters to seniors.
The company said it paid a little under $10.4 million for Boulder Palms Senior Apartments, a 182-unit complex on the eastern edge of the city. That’s about $57,000 per unit.
Debt financing for the deal was provided by Irvine-based One West Bank, according to Bascom.
It’s “our eighth acquisition in the Las Vegas Valley in the past [20] months,” Bascom Senior Vice President Lee Nguyen said in a statement. “We are excited to continue our expansion here as the market continues to recover.”
The two-story complex, completed in 1997, covers 4 acres and is near a number of area medical facilities, according to the buyers.
VOIT REAL ESTATE SERVICES DIRECTS THE SALE OF A 77,500 SQUARE-FOOT INDUSTRIAL PROPERTY IN ORANGE COUNTY
Garden Grove, CA (2/17/15) – Mike Bouma, Paul Caputo, and Eric Smith of Voit Real Estate Services’ Anaheim office successfully directed the $9,245,000.00 sale of a 77,500 square-foot industrial warehouse located at 10781 Forbes Avenue in Garden Grove, CA, on behalf of the seller, Paskin 2003 Trust. The buyer was Latif and Qudsia Mahjoob, who were represented by Jason Abboud of Lakeside Realty, according to Caputo, a Vice President in Voit’s Anaheim office.
“There is definitely a shortage of quality buildings for sale in most Southern California markets with end users expanding further out from their current location to find the right building. As a great example, the last two users we sold larger buildings to in this area migrated into Orange County from the Los Angeles area. ” noted Caputo.
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 53 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.
